Gold has been trending strongly on the higher time frames and seems like it still has a lot of room to move to the upside. We will wait patiently for the pullback on the 4hour chart demand zone that has been created. We should expect to see another leg to the upside on Gold.
Trade active:
Entry triggered on Gold. The only only concern here is that this entry as come too fast and also was news based. Let us keep a close watch on this instrument to see if the zone holds or violates and moves to a lower level. After a massive run to the upside there could be signs of profit booking in big numbers by instituitions
Trade closed: stop reached:
Stop loss hit